Case Details

Case Name: In the matter of DBS Bank India Limited vs Abhisar Impex Private Limited

Court/Authority: National Company Law Tribunal (NCLT), New Delhi Bench (Court – II)

Case Numbers: Item No. 207 (IB)-91(PB)/2022, IA-5033/ND/2024, IA-5718/ND/2025, IA-677/ND/2026, IA-1818/ND/2026

Under Section: 7 of the Insolvency and Bankruptcy Code (IBC), 2016

Order Date: 20.05.2026

Next Hearing Date: 08.07.2026

Parties Involved

Petitioner/Applicant: DBS Bank India Limited

Respondent: Abhisar Impex Private Limited

Representation:

  • For the Applicant: RP Mukesh Kumar Grover (also in matters of Vayam Technologies Limited and Abhisar Impex Pvt Ltd.)
  • For the Respondent (in IA no. 677/2026): Advocate Shailendra Ojha
  • For BOB, UBI, IDBI & AXIS BANK: Mr. Brijesh Kumar Tamber, Mr. Prateek Kushwaha, and Mr. Dhimaan Dutta

Hearing Mode: Virtual Court (VC) and Physical (Hybrid) Mode

Issues / Allegations / Violations

The primary issue before the tribunal is the non-compliance with a previous order dated 28.04.2026. The nature of the original application is a petition under Section 7 of the IBC, 2016, initiated by DBS Bank India Limited against Abhisar Impex Private Limited, typically filed for initiation of Corporate Insolvency Resolution Process (CIRP) for default in debt repayment.

Findings & Observations

The Tribunal noted that its order dated 28.04.2026 has not been complied with. No specific findings on the merits of the underlying insolvency petition are detailed in this particular order.

Penalties / Settlements / Directions

The Tribunal issued a directive for the responsible officers of the bank to remain present before the Tribunal on the next date of hearing, 08.07.2026, due to the non-compliance. No monetary penalties or other settlements are dictated in this order.

Corrective Actions & Future Obligations

The obligated corrective action is the physical presence of the bank's responsible officers on 08.07.2026 to address the non-compliance issue.

Final Ruling & Enforcement

The order adjourns the matter and lists all Interlocutory Applications (IA-5033/ND/2024, IA-5718/ND/2025, IA-677/ND/2026, IA-1818/ND/2026) for the next hearing on 08.07.2026. The directive for the bank officers' presence is to be enforced on that date.